New Stock News | Tambor submits application to Hong Kong Stock Exchange for China's fourth largest local professional outdoor fashion brand

According to the disclosure by the Hong Kong Stock Exchange on October 8th, Tumbo Group Limited (referred to as "Tumbo") has submitted its application for listing on the main board of the Hong Kong Stock Exchange, with CICC as the exclusive sponsor. According to the prospectus, Tumbo is a leading Chinese professional outdoor apparel brand. The company's products are based on excellent quality, user-friendly design, and advanced technology and craftsmanship, meeting the needs of various outdoor activities such as skiing, mountaineering, hiking, as well as urban scenes like outings, park leisure, and commuting, and redefining the trend of outdoor lifestyle. According to data from consulting firm Zhushi, based on retail sales in 2024, the company is the fourth largest domestic professional outdoor apparel brand in China. The company's product system is carefully planned and divided into three main series: premium outdoor series, sports outdoor series, and urban light outdoor series, each series aimed at different wearing scenarios. As of June 30, 2025, the company's product system includes a total of 687 SKUs. The company focuses on consumer-centric research and development, emphasizing fabric technology and product design. Particularly, the products use sustainable high-performance fabrics (such as nylon (polyamide fiber) fabric) with excellent strength, durability, and breathability. Based on fabric research, the company tailors design solutions for each product series' specific needs. The company combines practical functionality with a minimalist natural aesthetic to create professional outdoor apparel that is both functional and attractive. According to Zhushi Consulting data, based on online retail sales in 2024, the company is the fastest-growing brand in the top ten professional outdoor apparel brands in China, with an 80.3% increase compared to 2023. The company has developed a complete product range covering various outdoor activities in diverse natural environments such as skiing, mountaineering, hiking, as well as urban scenes like outings, park leisure, and commuting. The product portfolio includes professional outdoor apparel, mainly consisting of professional down jackets, hardshell apparel, and softshell apparel. During the historical period, Tumbo had three major product series - premium outdoor series, sports outdoor series, and urban light outdoor series. As of June 30, 2025, the company's product system includes a total of 687 SKUs. Premium outdoor series. The company's premium outdoor series is designed for high-intensity and advanced sports in extreme environments such as skiing, high-altitude hiking, and polar exploration, mainly targeting professional athletes, seasoned adventurers, and consumers seeking extreme experiences. Sports outdoor series. The company's sports outdoor series is designed for medium to high-intensity outdoor exploration activities such as mountaineering, camping, and medium-altitude hiking, targeting family outdoor groups, advanced outdoor enthusiasts, and consumers seeking a balance of functionality and comfort. Urban light outdoor series. The company's urban light outdoor series connects urban life with short outdoor scenes, covering scenarios like outings, park leisure, and commuting, catering to urban residents who cherish natural living and consumers seeking simplicity and practicality. According to Zhushi Consulting data, the market size of the Chinese professional outdoor apparel industry has grown from RMB 68.8 billion in 2019 to RMB 131.9 billion in 2024, with a compound annual growth rate of 13.9%, expected to reach RMB 287.1 billion by 2029, with a compound annual growth rate of 16.8% from 2024. It is worth noting that the market size of domestic professional outdoor apparel brands has grown from RMB 27 billion in 2019 to RMB 57.3 billion in 2024, with a compound annual growth rate of 16.2%, expected to reach RMB 137.2 billion by 2029, with a compound annual growth rate of 19.1% from 2024. This reflects the continuous expansion of the professional outdoor apparel market and the rapid growth of domestic brands. In terms of performance, for the six months ending on June 30 in 2022, 2023, 2024, and 2025, the company achieved revenues of approximately RMB 732 million, RMB 1.021 billion, RMB 1.302 billion, and RMB 658 million, respectively; during the same period, annual/period profits were approximately RMB 85.774 million, RMB 139 million, RMB 107 million, and RMB 35.937 million, respectively.